As we approach the end of 2023, investors are advised to scrutinize their portfolios and assess the returns from various asset investments. The equity market, experiencing record-high indices throughout the year, provided ample opportunities for smart investors to capitalize on both the secondary and primary markets.
In the primary market, out of the 105 initial public offerings (IPOs) listed on BSE, 48 were main board IPOs. Impressively, 90 of these IPOs are currently in the green zone compared to their issue prices.
A closer examination reveals that only 22 public issues initially listed at a discounted price, but seven of them recovered from losses and surpassed their issue prices post-listing. From a listing gain perspective, Indian IPOs boasted a 79% success rate in 2023.
Among the mainboard IPOs listed on BSE and NSE in 2023, only three out of 48 are presently trading below their respective issue prices, namely Yatra Online, IRM Energy, and Radiant Cash Management Services.
Here, we highlight the top 5 mainboard IPOs that turned out to be multibaggers for investors who remained invested:
1. **IREDA (Indian Renewable Energy Dev Agency Ltd):** Currently trading at ₹108.30 on NSE, IREDA’s public issue was launched at ₹30-32 per equity share. It listed at ₹50 apiece, delivering over a 56% gain. Investors who held onto their shares have seen their investment surge 3.40 times, resulting in a remarkable 240% return.
2. **Tata Technologies:** Listed in November 2023 at a price band of ₹475 to ₹500 per share, Tata Technologies shares closed at ₹1,243.30 on NSE. The IPO provided a substantial 140% listing gain, and those who stayed invested witnessed their returns increase to around 149%.
3. **Signatureglobal India:** Ending at ₹795.20 on NSE, Signatureglobal’s public issue was launched in September 2023 at ₹366 to ₹385 per share. While it provided a 15.50% listing gain, the stock posted significant gains post-listing, reaching a record high of ₹816.60 per share—a 106% increase from its upper price band of ₹385 per equity share.
4. **EMS Limited:** Closing at ₹439 per equity share on NSE, EMS IPO, launched in September 2023 at ₹200 to ₹211 per equity share, delivered a 33.50% listing gain. For those who stayed invested, the gain surged to nearly 110%.
5. **Cyient DLM Limited:** Ending at ₹653.55 on NSE, Cyient DLM IPO, launched in June 2023 at ₹250 to ₹265 per equity share, provided a 51.50% listing gain. Investors who remained invested in the post-listing period saw their returns more than double, reaching near 145%.
In addition to the mentioned mainboard IPOs, Utkarsh Small Finance Bank, Vishnu Prakash R Punglia, Netweb Technologies, Senco Gold, and JSW Infrastructure IPO also stood out, delivering substantial returns to investors in the Indian primary market for 2023.
